China factory in Tesla to produce 3000 cars a week: report

China factory in Tesla to produce 3000 cars a week: report

US electric car maker Tesla plans to produce 3,000 Type 3 sedans a week at its Shanghai plant as soon as the Chinese plant opens. This is clear from a report by Sina citing Friday's filings with the US Securities and Exchange Commission (SEC).

The California-based electric car manufacturer plans to increase the production of Model 3 to approximately 10,000 units per week so that in the near future almost one-third of the vehicles will be manufactured in China.

In July, the Shanghai government announced that Tesla would build a 100% super factory in the city with a production capacity of 500,000 vehicles per year, which would also become the largest foreign investment production project in the city.

China is Tesla's largest foreign market, with Model S and Model X now available. However, the continuing trade disputes between the world's two largest economies, the US and China, are clouding business prospects.

Retail prices of Tesla vehicles on July 7 rose from 139,000 yuan ($ 20,172) to 256,000 yuan ($ 37,151), as China imposed an additional 25 percent on US goods from July 6 onwards – To fight against customs attacks on July 6, a local Chinese report.

Tesla said it intends to increase its investments in factories and equipment to as much as $ 6 billion over the next two years, including the plant in Shanghai, where the US company plans to improve localization through local sourcing and manufacturing ,

The US company said it would take about two years to build the factory and start production in Shanghai, and plans to relocate part of the model 3 production to China in 2019, while manufacturing in China Tesla vehicles are only offered to Chinese customers for the Sina report.

China is the largest automobile market in the world and generated sales of 24.72 million cars and about 777,000 new vehicles in 2017. According to the associations, more than 17,000 Tesla cars were sold in China last year, an increase of 51 percent compared to 2016.

The Chinese government has also set itself the goal of banning the sale of gasoline and diesel vehicles by 2030 in order to achieve 100 percent electric vehicle sales at that time.

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